The New York Postreports that King's new contract with SI is a three-year deal between $1.2 and $1.5 million per. The biggest perk of that contract? "Kinglandia"! That's King's new standalone football site that we told you about on Monday. (Kinglandia's just the nickname around the office, but we will persist in calling it Kinglandia until there's a real name, and even then we'll probably call it Kinglandia anyway.) The site has poached TheGlobe's Greg Bedard and The Star-Ledger's former Jets and Giants beat writer, Jenny Vrentas. The site will launch in the next few months, and more writers will be hired for it.

SI wouldn't confirm King's salary, but the Time Inc. sports group editor Paul Fichtenbaum coyly told the Post: "It’s safe to say Peter is very nicely paid." In related news, Time Inc. recently laid off hundreds and is preparing for a anxiety-inducing spin off from its corporate overlord, Time Warner.